CONSTRUCTION of the Novus business park in Knutsford is set to begin following the awarding of a £10 million contract.

Once complete Novus, which is at the eastern end of the Parkgate Industrial Estate, will provide high-specification industrial and warehouse space across 16 acres.

Warrington-based industrial developer and asset manager Chancerygate has awarded a £10.7 million contract to Caddick Construction to build phase one of the business park.

The appointment represents the largest construction contract Chancerygate has awarded in its 25-year history, and is the first time the two businesses have worked together.

At 244,000 sq ft, Novus has a gross development value of about £33 million. It is currently the developer’s biggest scheme and is expected to create up to 700 jobs.

Caddick Construction is expected to start construction immediately, with phase one scheduled to complete in September 2020.

Comprising the speculative development of nine industrial and warehouse units, phase one will total 132,000 sq ft.

Individual units range from 4,100 sq ft to 25,000 sq ft and are available freehold or leasehold.

Chancerygate is also funding and building significant highway improvements including a new roundabout.

One unit totalling 30,000 sq ft has already been pre-let to prestige auto retailer Sytner Group on a long-term lease for pre-delivery inspection and vehicle servicing for clients such as McLaren, Bentley, Rolls Royce and Land Rover. Another unit in phase one is formally under offer.

Chancerygate development director and head of the company’s Warrington office, Mike Walker, said: “Novus is our flagship development in the north west, and working alongside Caddick we start construction with real momentum.

“They have an excellent track record of successfully delivering projects of this type and scale, and we are very pleased to be working with them for the first time.

“Our recent Sytner deal at Novus demonstrates Chancerygate’s ability to secure strategic locations and deliver an excellent standard of product.

“We are also committed to investing in the highways around the development to the benefit of all local businesses and residents.

“This, combined with the potential 700 jobs we expect Novus to create, means it will bring a significant boost to the local economy.”

Caddick Construction North West managing director, Ian Threadgold, said: “We hope this is the start of a successful long-term relationship between our two companies.”